Nomura Holdings Inc. Sells 35,536 Shares of The Travelers Companies, Inc. $TRV

Key Points

• Nomura Holdings Inc. reduced its stake in The Travelers Companies by 72.6%, selling 35,536 shares and owning 13,383 shares worth $3,539,000 after the sale.
• Several institutional investors made significant adjustments to their positions in Travelers, including Bank of America Corp DE increasing its stake by 236.9%, now holding 3,507,219 shares valued at $844,854,000.
• The Travelers Companies reported strong quarterly results, with earnings per share of $6.51, surpassing estimates of $3.52, and announced a quarterly dividend of $1.10 per share.

Nomura Holdings Inc. trimmed its position in The Travelers Companies, Inc. (NYSE:TRV - Free Report) by 72.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,383 shares of the insurance provider's stock after selling 35,536 shares during the period. Nomura Holdings Inc.'s holdings in Travelers Companies were worth $3,539,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in TRV. Bank of America Corp DE raised its position in shares of Travelers Companies by 236.9% during the 4th quarter. Bank of America Corp DE now owns 3,507,219 shares of the insurance provider's stock valued at $844,854,000 after buying an additional 2,466,098 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Travelers Companies by 31,132.9% during the 1st quarter. GAMMA Investing LLC now owns 2,203,481 shares of the insurance provider's stock valued at $582,733,000 after buying an additional 2,196,426 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Travelers Companies during the 1st quarter valued at $294,755,000. Bahl & Gaynor Inc. raised its position in shares of Travelers Companies by 41.2% during the 1st quarter. Bahl & Gaynor Inc. now owns 1,679,275 shares of the insurance provider's stock valued at $444,101,000 after buying an additional 490,039 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its position in shares of Travelers Companies by 25.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,934,625 shares of the insurance provider's stock valued at $511,631,000 after buying an additional 390,104 shares in the last quarter. Hedge funds and other institutional investors own 82.45% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Citigroup assumed coverage on shares of Travelers Companies in a research report on Wednesday, August 13th. They set a "neutral" rating and a $291.00 price objective on the stock. Barclays cut shares of Travelers Companies from an "overweight" rating to an "equal weight" rating and lowered their price objective for the company from $280.00 to $274.00 in a research report on Monday, July 7th. Wells Fargo & Company raised their price objective on shares of Travelers Companies from $264.00 to $275.00 and gave the company an "equal weight" rating in a research report on Friday, July 18th. Wall Street Zen cut shares of Travelers Companies from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Finally, UBS Group lifted their target price on shares of Travelers Companies from $275.00 to $284.00 and gave the stock a "neutral" rating in a research report on Monday, July 21st. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $284.56.

Travelers Companies Price Performance

Shares of Travelers Companies stock opened at $271.62 on Tuesday. The firm has a market cap of $61.15 billion, a PE ratio of 12.01, a price-to-earnings-growth ratio of 3.12 and a beta of 0.53. The Travelers Companies, Inc. has a 12-month low of $222.21 and a 12-month high of $279.04. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.27. The company's fifty day simple moving average is $263.93 and its two-hundred day simple moving average is $261.59.

Travelers Companies (NYSE:TRV - Get Free Report) last announced its quarterly earnings results on Thursday, July 17th. The insurance provider reported $6.51 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.52 by $2.99. The business had revenue of $11.54 billion for the quarter, compared to analyst estimates of $11.02 billion. Travelers Companies had a net margin of 10.97% and a return on equity of 18.68%. The company's revenue was up 7.4% on a year-over-year basis. During the same quarter last year, the firm earned $2.51 EPS. As a group, equities analysts expect that The Travelers Companies, Inc. will post 17.02 EPS for the current year.

Travelers Companies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Wednesday, September 10th will be issued a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend is Wednesday, September 10th. Travelers Companies's dividend payout ratio (DPR) is 19.46%.

Insiders Place Their Bets

In other Travelers Companies news, EVP Mojgan M. Lefebvre sold 16,820 shares of the firm's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $277.54, for a total value of $4,668,222.80. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Gregory C. Toczydlowski sold 11,505 shares of Travelers Companies stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $266.12, for a total transaction of $3,061,710.60. Following the sale, the executive vice president directly owned 18,416 shares in the company, valued at $4,900,865.92. The trade was a 38.45% decrease in their position. The disclosure for this sale can be found here. 1.46% of the stock is owned by company insiders.

About Travelers Companies

The Travelers Companies, Inc, through its subsidiaries, provides a range of commercial and personal property, and casualty insurance products and services to businesses, government units, associations, and individuals in the United States and internationally. The company operates through three segments: Business Insurance, Bond & Specialty Insurance, and Personal Insurance.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.